In the context of new consumption, the underwear industry is booming. On one side, cutting-edge underwear brands represented by NEIWAI, Jiao Nei, Ubras, etc. are flooding into the market and attracting users with the concept of Internet thinking and differentiation; on the other side, old underwear brands represented by Maniform and City Beauty are changing trends one after another. , to shorten the distance with young people.
Industry insiders believe that although old brands have actively made changes, the overall homogeneity problem is still obvious, and it is not yet known whether they can successfully catch up with new brands. Many new brands also face challenges such as strong product substitutability and low consumer loyalty. In the increasingly fierce competition, the war in the underwear industry has just begun, and all brands are competing for consumers on the same track.
New brands rely on differentiated concepts to attract users
It is understood that old underwear such as City Beauty and Aimu It took the brand about 15 years to seize the top market. With the upgrading of new consumption, new underwear brands such as Ubras, Jiao Nei and Nei Nei Wai have emerged in just three years.
New retail brands with Internet thinking are based on the concept of differentiation. For example, Jiao Nei emphasizes the technological sense of underwear through new technologies, ubras focuses on size-free underwear items, focuses on women’s issues inside and outside and takes a high-quality route, and Toffee Pie focuses on solving the problem of large breasts.
The reporter noticed that although the product positioning is slightly different, they have one thing in common, that is, they all express women’s recognition of their self-worth. Spontaneity, confidence and independence are the three key words.
In addition to product differences, new underwear brands also rely on marketing channels to attract users. First, through information flow dissemination, e-commerce live broadcasts, celebrity endorsements, etc., promote the functionality of the product and attract mass consumers to join the game; secondly, use cultural cross-border, trendy gameplay, community marketing and other methods to maintain user stickiness; finally, , is to explore the stories and emotions that directly touch the hearts of users, and cultivate a group of loyal users who highly recognize the brand spirit.
Old brands are renewed to attract young people
It is understood that due to changes in the consumer market and changes in consumption concepts, the underwear industry The landscape is changing rapidly, and some traditional underwear brands are in a performance dilemma. However, old brands are not to be outdone, and have actively transformed themselves in terms of products, brand promotion and endorsements to attract a new generation of young people.
First of all, in terms of products, old brands have begun to pay attention to comfort and technology just like new brands. For example, Urban Beauty expands its product line, emphasizing practicality, comfort, health and cost-effectiveness in addition to fashion and sexiness, and also emphasizes the application of technology, including the use of 3D technology, wind insulation, dust-free cotton fabrics, etc. in new products. Victoria’s Secret, an international brand that has always been “sexy” as its brand feature, has also begun to develop styles such as no steel rings, no padding, and thin padding when facing the current comfort-oriented underwear market.
Secondly, in terms of brand promotion and endorsement, old brands are also closer to young people. It is understood that at the end of 2019, Maniform officially announced Song Qian as the new brand spokesperson. At the same time, it also reached an in-depth cooperation with the popular variety show “Creation Camp 2020” last year, using the talent show variety show to attract young people. City Beauty changed its spokesperson from Lin Chiling to Guan Xiaotong in 2019, and Victoria’s Secret also chose Yang Mi and Zhou Dongyu to join in China.
The next three to five years may be an important watershed
Industry insiders believe that the increasingly fierce In the competition, the war in the underwear industry has just begun. Although old brands have actively made changes, the overall homogeneity problem is still obvious, and it is not yet known whether they can successfully catch up with new brands. Many new brands also face challenges such as strong product substitutability and low consumer loyalty.
It is understood that behind the new and old brands seizing the track is China’s huge women’s underwear market. Euromonitor, an international authoritative organization, predicts that by 2022, the size of China’s women’s underwear market will reach 197.3 billion yuan. iiMedia Research data also shows that in 2019, China’s consumer demand for underwear reached 16.77 billion pieces, and is expected to exceed 17 billion pieces by the end of 2020.
However, China’s underwear industry still faces a lack of giants. There are more than 3,000 underwear brands in my country. The industry is relatively fragmented and the brand concentration is low.
According to Euromonitor statistics, the market concentration rate of the top five brands in China’s underwear market in 2018 was only 6.6%. According to the monitoring data of my country’s offline retail channels by the China Federation of Commerce and the China National Commercial Information Center, even Aimu, which had the highest comprehensive market share in 2019, only held 7.34% of the market share.
Some insiders have analyzed that the underwear industry is a labor-intensive industry with low barriers to entry. Compared with foreign underwear markets, my country’s underwear market as a whole has not yet emerged as a prominent industry leader. The entry of new entrants focusing on segmented tracks will be of great benefit to the overall development of the industry.
In the short term, 2021 will be a year of fierce competition. In the long term, the next 3 to 5 years will be an important watershed, and established underwear companies are increasing investment.Explore the direction of transformation. If the company cannot cope with the fierce and complex market competition, its production and operations will face adverse effects. </p
